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How can we characterize phil preferences

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Phil wants to live a long, healthy life. He knows that in order to do so, he must eat healthy foods. However, when faced with junk food, Phil has trouble refusing. How can we characterize Phil's preferences?

Phil has consistent and stable preferences.

Phil has a hyperbolic discounting problem

Phil has preferences that create externalities.

Phil has an information processing problem.

Reference no: EM132253402

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